Japan’s Mizuho Applies to Set Up Securities Company in China

REUTERS/Kim Kyung-Hoon
Mizuho Bank’s signboard is pictured in Tokyo, Japan, January 25, 2017. Picture taken January 25, 2017.

BEIJING (Reuters) – Japanese bank Mizuho has sought to establish a securities company in China, becoming the latest foreign firm to make an inroad into China’s onshore securities market with a fully-owned entity.

The China Securities Regulatory Commission has received Mizuho Securities’ application, according to a filing record issued on Wednesday from the regulator’s website.

Citigroup C.N and Standard Chartered STAN.L are also in the process of establishing securities units in China after Beijing allowed wholly-owned foreign securities companies in 2019.